Caught off guard, the opposition populist Freedom Party attacked what it called “sham measures”, while tenants’ organisations called it too little too late.
Without the intervention on Wednesday, state-owned housing bodies were readying index-linked rent increases of up to 15 per cent next year. State statistics show inflation in Austria rose on average by 7.8 per cent in the year to July 2023, higher than the euro-area average of 5.2 per cent and above neighbouring Germany’s 6.2 per cent.
Given the scale of Austria’s public housing sector, the hope is that the cap will, in turn, have a positive effect on rents in the much smaller private sector. As part of a wider cost-of-living package, the Austrian government has promised to freeze the cost of state services from autobahn tolls to passport fees and the so-called “climate ticket”, which allows holders travel anywhere in Austria by rail for €1,095 annually.
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